Canon has released its financials for Q2 of 2021, and things are better than the company expected. As you have previously heard, printer sales have been great because of people working from home. Demand for cameras has also exceeded expectations as people have picked up new hobbies during the pandemic. Canon has raised its forecasts for cameras shipped for the remainder of 2021.

There isn't much in the way of easter eggs of information that I can find in the presentation material, but Canon has definitely been surprised by the demand for cameras and lenses and compared to the same quarter in 2020, Canon is performing extremely well.

Canon imaging presentation

Demand for cameras is growing steadily thanks to the strength of consumer spending in the United States and elsewhere, and the increasing number of people picking up cameras as a hobby and image expression as a new way of using time amid the COVID-19 pandemic. As a result, we raised our outlook for the size of the global camera market by 200 thousand units and now expect the overall size to be 6 million units for the full year.

In the second quarter, the share of total sales attributable to the EOS R5 and EOS R6, for which sales remain strong, has increased more than expected.

In addition to this, the number of full-frame mirrorless camera users who purchase RF lenses has been accelerating since the launch of the R5 and R6, creating a situation where we cannot supply some products in a timely manner.

From a longer perspective, in order to meet the strong demand for RF lenses as well as expand the range of image capture, a 400mm and a 600mm super-telephoto lens that combine high image quality and lightweight, as well as a macro lens that delivers improved maximum shooting magnification of up to 1.4x were added in July. By continuing to enhance our lineup of RF lenses, which currently consists of 22 lenses, we will further strengthen our full-frame mirrorless camera system and increase our market share in this category.

As for our outlook, in response to strong demand for camera bodies, we raised our unit sales projection by 100 thousand units, and now project full-year unit sales to be 3 million units. We also raise our sales projection to reflect strong sales of lenses. In unison with this, we will also strive to maintain stable profitability by continuing efforts to optimize expenses.

Canon Q2 2021 Financial Information

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  1. So much for the, "Canon is really screwing everything up with the EF to RF move" crowd.
    I still haven't stepped into RF yet, but I have to admit, the RF lenses they're producing are extremely desirable for me, and the adapter solution with a control ring or drop in filter system is a great way to breath life into some EF lenses. I'm not at all surprised that things are going well for them.
  2. In short, Canon forecasts that they will sell 3.00 million interchangeable-lens cameras this year, and that their Imaging division will have a 71.0 billion yen Operating Profit.
  3. I guess we can forget about prices dropping on any RF mount gear for quite some time. Good thing I'm happy with my EF kit. I see the big used places are getting some large inventories of used EF lenses. I wonder if prices will drop on those?
  4. Regardless, without a successor to the M5 very soon I predict bankruptcy several quarters from now.

    It's gotta have IBIS and uncropped 4K (even in stabilization mode)!!
  5. So much for the, "Canon is really screwing everything up with the EF to RF move" crowd.
    Sorry to burst your bubble but see my comment below (or above) Waiting for WSJ to quote me.

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